The “Automotive Communication Technology Market – By Application, By Vehicle Class, and By Region – Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” report has been added to ResearchAndMarkets.com’s offering.
The global Automotive Communication Technology market amassed revenue worth nearly 7 (USD Billion) in 2019 and will register a CAGR of over 17% during the period from 2020 to 2026.
The report offers assessment and analysis of the Automotive Communication Technology market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
Automotive sector has emerged swiftly as a result of growing utilization of electronic control units that has favorably impacted the myriad vehicle subsystem communications. This is anticipated to fuel the inception of new automotive communication technologies.
Moreover, the vehicles possess huge number of circuits, sensors, and wires resulting in complicated & expensive wiring harnesses and this has created the need for automotive communication systems requiring higher bandwidth, fault tolerance ability, and determinism. The automotive communication technologies assist in minimizing the complexities arising in the circuits. Precisely, demand for automotive electronics has favorably impacted the need for automotive communication systems and is directly proportional to it.
Market Growth Dynamics
Massive need for reducing fuel emissions from vehicles and requirement for enhancing safety of the vehicles will impel the business growth over the forecast timeline. In addition to this, humongous sales of luxury cars will proliferate the expansion of automotive communication technology business over the forthcoming years. In addition to this, a paradigm shift witnessed in automotive sector resulting in launching of self-driven vehicles will boost the market size in the foreseeable future. Moreover, escalating popularity of automotive electronic has contributed notably towards the market growth over the forecast timeline.
Apparently, large-scale funding of research & development activities pertaining to automotive technologies will impel the expansion of the automotive communication technology market during the forecast timeline. Surge in the deployment of electronic systems in passenger vehicles will contribute lucratively towards the overall market growth over the period from 2020 to 2026.
Asia Pacific To Account Remarkably Towards Market Share By 2026
The regional market growth over the forecast timeline is due to surge in vehicle production and enforcement of strict laws by the government for ensuring the vehicle safety. Apparently, rise in the infrastructural funding and surge in the construction activities will embellish the regional market expansion over the forecast timeline. Furthermore, growing trend towards premium vehicles will catalyze the regional industry trends.
Key players influencing the market growth include
The global automotive communication technology market is segmented as follows:
By bus module
Local Interconnect Network (LIN)
Controller Area Network (CAN)
Media-Oriented Systems Transport (MOST)
By vehicle class
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View source version on businesswire.com: https://www.businesswire.com/news/home/20201009005327/en/
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